by Alex Palmer | September 04, 2018
Organizations looking for guidance on how rewards can help them to retain and better engage their top talent have a new tool to assist them. B2B gift card services company GiftCard Partners has released a white paper titled "How Rewards Strengthen Employee Loyalty and Retain Top Talent," offering tips on how company leaders can design effective employee engagement programs and provide rewards most likely to impact performance.

Drawing in research and actionable tips for engaging workers, the report looks at points such as the costs of disengagement and challenges to retaining top talent in the current era. 

"It's easy to fall into the mindset that low employee retention rates are inevitable, but there's more to do about it than you might think," writes the report's authors. "It's possible to find strategies that engage employees in the right ways so they feel like they are doing great work and making a significant contribution to the company."

To help address these challenges, the report's authors explain that rewards can make the ideal tool for recognizing top performers and boosting morale company-wide. It lays out the ways that rewards can be used to do this, including increasing engagement in company initiatives, recognizing top-performing employees or loyal customers and showing appreciation for workers to ensure they feel valued.

"Why rewards work in organizations is simple: they add value to the work being done and performance of your employees -- value that may not have been clearly communicated before," writes the report's authors. "Employees want to see the the fruits of their labor, but may not have the perspective from their role to see how valuable their contributions are. Rewards bring awareness to specific, tangible aspects of performance so employees know how well they're doing."

It emphasizes that non-cash rewards are key to making these efforts succeed, since "In many cases, cash is firmly viewed as compensation," while non-cash rewards "are viewed as vehicles of celebration."

The full report can be downloaded at GiftCard Partners' website.